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METabolic EXplorer — Earnings Release 2009
May 13, 2009
1519_iss_2009-05-13_cb5dcfca-e7a0-49c6-b1fa-4b7af830f04e.pdf
Earnings Release
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METabolic EXplorer: turnover for Q1 2009
Clermont-Ferrand, France, May 13, 2009 – METabolic EXplorer, the green chemistry company specializing in the development of bioprocesses for the production of chemical compounds used in a wide range of everyday products (paints, solvents, animal feed supplements, adhesives, textile fibres, resorbable surgical thread, etc.), today gave an update on its business activity in Q1 2009.
| Q1 | 0 | 15 |
|---|---|---|
| Turnover (IFRS) in k€ | 2009 | 2008 |
METabolic EXplorer did not register any revenues in Q1 2009.
At present, the company's turnover consists exclusively of licensing revenues from two co-developed bioprocesses (for the production of glycolic acid and L-methionine). These contractually set revenues are sometimes paid on the achievement of project development milestones and, as such, fluctuate strongly from one quarter to another.
Key events during Q1 2009
On March 10, METabolic EXplorer announced the construction of its purification unit. When combined with the company's fermentation unit (launched in late 2007), the latter will thus constitute the industrial pilot plant, scheduled for commissioning by the end of 2009. The industrial pilot will enable continuous-batch production of the target compounds from renewable feedstocks and thus validation of the cost price for each process - the final step in generation of the process book. A €10 million budget has been assigned to construction of the industrial pilot plant.
Financial status
On March 31, 2009, METabolic EXplorer held cash and cash equivalents amounting to €54.4 million (versus €55.7 million on December 31, 2008). The continued application of a strict management policy is enabling the company to maintain a cash position in line with the strong, scheduled increase in industrial investments.
Next financial announcement: turnover for the first half of 2009: Friday, July 17, 2009, at 7.00am
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About METabolic EXplorer - www.metabolic-explorer.com
METabolic EXplorer is a biological chemistry company which was incorporated in 1999. Its goal is to assist industrial manufacturing businesses to change the way they produce many everyday goods through novel production methods that do not rely on increasingly scarce oil-based petrochemical feedstocks.
METabolic Explorer's unique technical expertise provides industrial producers with attractive alternatives to today's expensive petrochemical processes by enabling them to use a range of renewable and sustainable raw materials. METabolic EXplorer is able to optimize the production yield of commercially important chemical intermediates from non-pathogenic bacteria by leveraging on the proven principle of industrial fermentation. These chemical intermediates are incorporated into the production of chemical compounds used in a wide range of everyday products - paints, solvents, adhesives, textile fibres, surgical thread and animal feed.
METabolic EXplorer is currently focusing its alternative biological solution (implemented via the development of its renewable fermentation-based bioprocesses) on the production of 5 products that have a combined end market value estimated at \$14 billion annually. The company plans to use its unique technology for the production of these 5 products to bring them to market via non-exclusive industrial alliances and joint-ventures with chemical companies and renewable feedstock providers worldwide.
METabolic EXplorer is based in Clermont-Ferrand, France, and is listed on NYSE EURONEXT PARIS (EURONEXT C, METEX) and features in the SBF 250 and CAC Small 90 indexes.
Receive METabolic Explorer's financial information free of charge by registering at www.metabolicexplorer.com or www.actus-finance.com.
Press Contacts
ATTITUDE Corporate
Eric de Lambert-Reiner E-mail: [email protected] Tel.: +33 (0)1 4970 4341 / +33 (0)6 2529 0658
Emmanuelle Lapeyre E-mail: [email protected] Tel.: +33 (0)1 4970 4343 / +33 (06) 1588 6209
Financial contacts
METabolic EXplorer S.A.
Paul Michalet, CFO METabolic EXplorer Biopôle Clermont-Limagne F-63360 Saint-Beauzire FRANCE E-mail: [email protected] Tel.: +33 (0)4 7333 4300 Fax: +33 (0)4 7333 4301
Actus Finance
E-mail: [email protected] Jérôme Fabreguettes-Leib Tel.: +33 (0)1 7735 0436
This communication includes forward-looking information which is subject to risks and uncertainties. The potential development of the company could be substantially different from that anticipated in this press release because of the various risk factors which are described in the company's Listing Prospectus.